DB Survey

We undertake intermittent, specific surveys on DB schemes.

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IAPF Benefits Survey 2002IAPF15.05.2002The 2002 Survey was carried out over the period November 2001 to February 2002 and so can be regarded as giving a picture of benefit practice at the start of 2002 shortly before the expected introduction of the Pensions (Amendment) Act 2002. The Survey was conducted via a questionnaire sent to all IAPF members and, for the first time, a selection of large employers who are not current IAPF members. Responses were confirmed and clarified by phone where necessary. For the first time, the questionnaire included questions about the background of respondents. This will enable sectoral analyses to be carried out either for the IAPF itself or, if requested, for a member company. Questions about benefit practices have also been extended into a number of new aspects. The main difference from previous surveys is that this time respondents were invited to provide data for any of their major schemes - not just whichever scheme they regard as their 'main' scheme. This led to quite a few responses covering both DB and DC schemes. This has provided more information about current practice on DC schemes than would otherwise have been possible. The results for DB and DC schemes are shown in separate sections for the first time which highlights the extent to which different practices are adopted. Each of the few hybrid schemes covered tended to fit naturally into either the DB or DC category for the purpose of the analysis and so they are not shown separately. A small minority of respondents provided data on more than one DB scheme, often these applied to different companies within a group and so were all included in the results. Finally a very small number of purely discretionary schemes were excluded entirely from the results, as were a few AVC only schemes. Overall responses were received in respect of 214 schemes, covering a total of around 425,000 people. These are made up of 175,000 active members, 185,000 members with deferred benefits (many in industry schemes), nearly 55,000 pensioners and with about 10,000 employees in the process of becoming eligible for retirement benefits.Download this publication Click here to download [ Size: 100 kb]

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